This article was posted on Friday, 19:57, UTC.
Gold: Long-Term Buy (Update)
// -- Discuss and ask questions in our community on Workplace
. Don't have an account? Send Jonas Borchgrevink an email -- //
Gold topped $1280 today after giving another short-term buy signal on the 4-hour time-frame, following the worse than expected US Employment Report, storming past the crucial declining trend-line and the $1273 resistance. The move justifies a higher stop-loss level just below the $1245 support. Long-term investors could cut back on their holdings although the test of the $1315 resistance is likely after today’s rally. Short- term traders could place stop-loss orders below the $1260 level. Below the $1315 zone, primary resistance is ahead at $1300.
Featured image from Pexel
Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.
Feedback or Requests?
Trader and financial analyst, with 10 years of experience in the field. An expert in technical analysis and risk management, but also an avid practitioner of value investment and passive strategies, with a passion towards anything that is connected to the market.